Economy Ministry News
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Russia’s economy grew at the weakest pace since 2009 in the first quarter as the euro area’s longest recession hurt demand for commodity exports and investment at companies including OAO Gazprom cooled.
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Russia’s economy probably grew at the weakest pace since 2009 in the first quarter as investment at companies including OAO Gazprom cooled and the euro area’s longest recession hurt demand for commodity exports.
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Russia’s government is split over charging the central bank to support the economy as part of efforts to revive growth, leaving President Vladimir Putin to decide, according to an official familiar with the proposals.
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Ukio Banko Investicine Grupe, or UBIG, the Lithuanian investment company that controls Scottish soccer club Heart of Midlothian, is insolvent, said the Baltic nation’s Department of Enterprise Bankruptcy Management today on its website.
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Russia left its main interest rates unchanged for an eighth month, brushing off government calls for lower borrowing costs and repeating an incremental cut to seldom used rates after inflation accelerated last month.
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The forint strengthened the most in a week after Hungary’s economy recorded its first quarterly growth in more than a year, beating estimates.
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Portugal’s hotels recorded a 9.5 percent rise in revenue in March from the same month last year, bolstered by the Easter break and an increase in overnight stays by Spanish, British and German tourists.
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Angola, Africa’s largest crude oil producer after Nigeria, plans to use loan guarantees and investment to create thousands of companies and jobs, Minister of the Economy Abrahao Gourgel said.
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IG Metall, Germany’s biggest union, won a pay deal in the state of Bavaria that exceeds the rate of inflation, setting a benchmark for a national accord.
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Russia, the world’s biggest energy exporter, will probably reduce duties on most oil shipments abroad by 5 percent on June 1 after Urals crude prices fell.
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